Hi guys I’ve been trading options for a minute now and with the overall market sentiment I decided to put my risk tolerance to the test and ended up swapping a January AAPL 250 call for a Oct 4th 170 call on AMD. My reasoning is that there is a large demand level at 157 that’s fairly illiquid to the next most recent consolidation level – also has had lots of seller attention so upside should b less priced in (feel free to lol at me). I’m down big but as a seasoned retail monkey I’ve learned that selling when it looks bad often is good in short term until price action rebalances and I played myself.
TLDR: traded solid AAPL contract for spooky AMD close to AMD’s
high of the day
https://i.redd.it/y9a7hxf0p0ld1.jpeg
Posted by Individual_Avocado37
3 Comments
i feel like i have seen this screen on my computer before.
💎🤗 by force 😂
AMD is cursed. Doesn’t matter how much you analyse it, or how many days or weeks it bounces off of very particular supports and resistances, the moment you go in it blows past them. Half the time it’s inversing NVDA and the other half it’s mirroring it and you can never know which is which. All year people are getting into AMD out of FOMO because they think they missed the chance with NVDA and ultimately even now NVDA has been the play all year and AMD isn’t. I made some decent trades on it but got burned hard a couple of times so I’m not touching it again. 157 was a strong level earlier in the summer but it regularly blows past it now.
I’ll laugh at you for taking a picture of your screen with your phone. Screenshots are a thing you know.